XTX Topco Ltd Trims Holdings in C3.ai, Inc. (NYSE:AI)

XTX Topco Ltd decreased its holdings in C3.ai, Inc. (NYSE:AI) by 53.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,161 shares of the company’s stock after selling 14,936 shares during the period. XTX Topco Ltd’s holdings in C3.ai were worth $277,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Garde Capital Inc. bought a new stake in C3.ai during the first quarter valued at about $29,000. Russell Investments Group Ltd. boosted its position in C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after purchasing an additional 456 shares in the last quarter. Orion Capital Management LLC bought a new stake in C3.ai during the fourth quarter valued at about $34,000. CX Institutional bought a new stake in C3.ai during the first quarter valued at about $34,000. Finally, Raiffeisen Bank International AG bought a new stake in C3.ai during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Insider Buying and Selling at C3.ai

In other news, CFO Hitesh Lath sold 17,689 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $24.96, for a total value of $441,517.44. Following the completion of the sale, the chief financial officer directly owned 166,218 shares of the company’s stock, valued at approximately $4,148,801.28. This represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard C. Levin sold 36,000 shares of the company’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $28.17, for a total transaction of $1,014,120.00. Following the completion of the sale, the director owned 161,664 shares of the company’s stock, valued at approximately $4,554,074.88. This trade represents a 18.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,957,194 shares of company stock worth $50,228,056. Corporate insiders own 33.54% of the company’s stock.

C3.ai Price Performance

Shares of NYSE AI opened at $16.47 on Tuesday. The stock’s 50-day moving average is $25.10 and its two-hundred day moving average is $24.60. C3.ai, Inc. has a 1-year low of $14.70 and a 1-year high of $45.08. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -7.35 and a beta of 1.98.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.04. The company had revenue of $108.72 million for the quarter, compared to the consensus estimate of $107.85 million. C3.ai had a negative return on equity of 33.51% and a negative net margin of 74.21%. C3.ai’s revenue was up 25.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.11) EPS. Equities research analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler dropped their price objective on C3.ai from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, May 29th. KeyCorp reissued a “mixed” rating on shares of C3.ai in a report on Thursday, May 29th. Oppenheimer lowered their price target on C3.ai from $56.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, May 29th. Canaccord Genuity Group lowered their price target on C3.ai from $30.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, May 29th. Finally, Westpark Capital raised C3.ai to a “strong-buy” rating and set a $40.00 price target for the company in a report on Wednesday, July 9th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, C3.ai has an average rating of “Hold” and a consensus target price of $29.43.

About C3.ai

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.